As I speculated earlier this evening, it seems clear that today’s apparent bounce back in the stock market is based more on hope that reality: It seemed, by many accounts, a far happier day than the last. Hours after their worst drop since 1987, stocks reversed course on Tuesday and headed right back up on […]Continue reading A Market In Hope And Fear
Archive for September, 2008
McCain on the Campaign trail, referring to the massive Treasury power-grab: “The first thing I would do is say, ‘Let’s not call it a bailout. Let’s call it a rescue,’” McCain told CNN. He said, “Americans are frightened right now” and political leaders must give them an immediate solution and a longer-term approach to the […]Continue reading Quote Of The Day — Orwell Would Be Proud
First, no phone calls unless they’re hands-free. Now, no texts or emails on my Crackberry… Starting January 1, 2009 a new law will go into effect where writing, sending, or reading a text-based communication while driving will be against the law for all drivers in California. This new law applies to electronic wireless communications devices […]Continue reading California Taking All The Fun Out Of Driving
A few days ago, I tried to explain, in layman’s terms, how we ended up in this financial mess. I had this to say about the bailout: We can debate whether or not this bailout should or shouldn’t occur (for the record, I’m against it), but in an election year, there’s nothing that’s going to […]Continue reading Thoughts On The Bailout
The House of Representatives is set to put yet another nail in the coffin of the free enterprise system on the 127th annversary of the birth of one of it’s greatest defenders. UPDATE (Brad Warbiany): Note — This post was written early this morning, before the bailout was shot down in the house. The WaPo […]Continue reading How Richly Ironic
I’ve been fairly critical of Ron Paul’s political instincts, especially his recent decision to endorse Chuck Baldwin for President, but when it comes to the impending Paulson-Bernake bailout, he’s one of the few voices in Congress talking about what’s really at stake. Here’s video from the Joint Economic Committee hearing late last week: And here […]Continue reading When Ron Paul Is Right, He’s Right
We’ve already seen one debate between McCain and Obama. And frankly, although I was drinking beer at the time, I was far too even-keeled to be able to take this nonsense. We’ve got two more of these, and we need something to make it a bit more interesting. So I propose a Presidential Debate Drinking […]Continue reading Weekend Open Thread: Presidential Debate Drinking Game
Whether you consider yourself a libertarian (big “L” or small “l”), classical liberal, a Barry Goldwater/Ronald Reagan/Ron Paul Republican, Objectivist, or just simply want less government and more freedom we should always remember that there is far more which unites us than divides us. This is not to suggest that these finer points of these […]Continue reading Ron Paul & Bob Barr: It’s Time to Unite!
No additional comment needed…Continue reading It’s Funny Because It’s True
About that $ 700 bailout ? Yea, they’re not even sure the number is right: “It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.” Ugh.Continue reading Quote Of The Day: They’re Just Making Stuff Up Edition
Leverage: 4. the use of a small initial investment, credit, or borrowed funds to gain a very high return in relation to one’s investment, to control a much larger investment, or to reduce one’s own liability for any loss. For an investor, margin is a blessing and a curse. When you’re trading on margin, your […]Continue reading The Global Financial Margin Call
Earlier this week, former Presidential candidate Ron Paul finally decided to endorse a candidate for President, and he chose to pick the wackiest man in the room: The Libertarian Party Candidate admonished me for “remaining neutral” in the presidential race and not stating whom I will vote for in November. It’s true; I have done […]Continue reading Ron Paul Takes The Last Step Into Irrelevance
A two-fer today. First, from our fearless leader about 4 months ago: “Our policy in this administration — laws shouldn’t bail out lenders, laws shouldn’t help speculators.” — President Bush, May 19, 2008 And, second, from the Republican Party Platform, passed in convention only three weeks ago: We do not support government bailouts of private […]Continue reading Quote Of The Day: Hypocrite In Chief Edition
While the rest of the politcal class debates the wisdom of John McCain’s non-supension suspension of his campaign, Libertarian Party Presidential Candidate Bob Barr seems to be one of only a handful of people out there saying we need to look at the bailout itself: In the name of restoring economic confidence, the Bush administration […]Continue reading Just Say No To The Bailout From Hell
For those of us who value the concept of life, liberty, and property, there doesn’t seem to be much reason to be optimistic for America’s future. Last week we saw one government (taxpayer) bail out after another. The price tag seems to grow a couple of hundred billion dollars each day (depending on which figures […]Continue reading Welcome to the U.S.S.A.
Well, that’s what the S&P rating service is discussing, but they do point out one crucial point allowing them to retain their place: “As an advanced economy with almost no foreign currency debt — and with the ability to continue to borrow in its own currency — the U.S. ratings face little threat in the […]Continue reading Quote Of The Day — Treasury Bonds Lose AAA Status?
Despite the long-term damage to the economy inflicted by the government’s interference in the housing market, the government’s policy of diverting capital to other uses creates a short-term boom in housing. Like all artificially-created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is […]Continue reading Quote of the Day: The “Don’t Say You Weren’t Warned” Edition
If I had photoshop skills, I’d be putting out a picture of Ron Paul smiling up* at Ben Bernanke throwing money out of helicopters… Unfortunately, I’m not an artist. So this will have to do… Perhaps my predictions in early 2007 are starting to come true? We’re in an election year, and our next president […]Continue reading Dr. No — Or How I Learned To Stop Worrying And Love The Fed